Stripe, Visa, Mastercard, and Coinbase Come Together to Rival Circle, Tether
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Stripe, Visa, Mastercard and Coinbase are reportedly collaborating on a new stablecoin initiative and potential jointly backed token targeting the $325 billion stablecoin market currently led by Tether and Circle, which together control roughly 80% of supply. Although unconfirmed, the alliance, with Coinbase a major USDC distribution partner, would be a major payments and crypto integration with implications for token launch, adoption, DeFi activity and CEX liquidity and could reshuffle market share.
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- Stripe, Visa, Mastercard, and Coinbase are reportedly working on a stablecoin initiative.
- The proposed entrant would target a $325 billion stablecoin market currently led by Tether.
- Coinbase’s involvement is notable as it is one of USDC’s largest distribution partners.
The stablecoin market may be heading toward its biggest competitive transition since USDT and USDC took over the sector. Stripe, Visa, Mastercard, and Coinbase are reportedly working on a new stablecoin initiative that would bring together some of the largest names in payments and crypto.
While the companies have not publicly confirmed the project, multiple reports indicate discussions are underway around a new stablecoin platform and potentially a jointly backed token.
If launched, the group would enter a market currently dominated by Tether and Circle, which together control roughly 80% of the s…
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